AvailableMultifamily Sale

7 Large Units On Nearly A 1/2 Acre

10675 Royal Palm Blvd, Coral Springs, FL 33065

Offering Price$2,499,000
Units7
Building8,407 SF
Land2,053 SF
Cap Rate7%
7 Large Units On Nearly A 1/2 Acre listed by Fidelity Real Estate Group
Property Photos

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Property Overview

Investment Opportunity

Fantastic Find In The Heart Of Coral Springs! This 7-Unit Property Sits On Nearly Half An Acre And Offers A Prime Corner-Lot Location. The Property Consists Of One Spacious 3 Bedroom, 2.5 Bath Townhome, Four 3 Bedroom, 2-Bath Units, And Two - 2 Bedroom, 2-Bath Units. Current Rents Are Well Below Market, Creating Tremendous Upside Potential. Every Unit Includes Washer And Dryer, A Private Patio Or Balcony, And Separate Electric Meter, Helping Maximize Rental Income. Projected Annual Gross Income Is $240,000, With Total Estimated Annual Expenses Of $68,389. Estimated Expenses Include Landscaping Of $4,800, Insurance Of $12,000, Water Of $5,400, And Electric Of $1,560. All Information Is Believed To Be Accurate But Is Not Guaranteed.

Property Information

Property Details

Property Basics

Property CategoryMultifamily Sale
CountyBroward
ZoningRM-20 Multifamily 2-9 Units (08)
Units7
APN4841-20-01-4270
Building SF8,407 SF
Land SF2,053 SF
Land Acres0.05
Year Built1987

Building & Systems

Number of Buildings1
Number of Stories1
Electric Meters7
Water Meters1
LaundryIn-Unit Washer & Dryer
HVACCental

Investment Metrics

Price Per Unit$357,000
Price Per Building SF$297.25 / SF
Price Per Land SF$1,217.24 / SF
Financial Overview

Investment Financials

Proforma Financials

Gross Income$237,540
Operating Expenses$68,390
Net Operating Income$169,150
Cap Rate7%

Unit Mix

10675
Occupied
Bed/Bath3/2
Actual Rent$1,995
Proforma Rent$2,900
LeaseMTM
10677
Occupied
Bed/Bath3/2
Actual Rent$2,195
Proforma Rent$2,900
LeaseMTM
10679
Vacant
Bed/Bath2/2
Proforma Rent$2,500
10681
Occupied
Bed/Bath3/2.5 Townhome
Actual Rent$3,195
Proforma Rent$3,195
LeaseMTM
10683
Occupied
Bed/Bath3/2
Actual Rent$2,800
Proforma Rent$2,900
LeaseMTM
10685
Vacant
Bed/Bath3/2
Proforma Rent$2,900
10687
Vacant
Bed/Bath2/2
Proforma Rent$2,500

Expense Breakdown

Taxes$44,629.80
Insurance$12,000.00
Water$5,400
Landscaping$4,800
House Electric$1,560
Total Expenses$68,390